| There exists a complex relationship among the three sectors of finance,research and development(R&D)and industry in the economic system,which affects the performance of China’s economy.In order to explore the interrelationships between these three sectors and the impact of external factors on their coupling relationships,this paper takes an empirical approach and couples financial support,technological R&D,and industrial production to construct a finance-R&D-industry coupling system.The paper conducts research on the entire system as well as its sub-sectors,reveals the development status of different sectors of the system and the coupled system,and analyzes the external factors that affect the efficiency of the coupling system.This paper selects various provinces in China from 2011 to 2019 as the evaluated units,and uses black box DEA model,separation DEA model,network DEA model and cross efficiency method to evaluate and analyze the efficiency of the financial-R&D-industrial coupling system.K-means clustering method and Mann-Whitney U test method are used to group the evaluation provinces and test the correlation between different groups.At the same time,this paper analyzes the priority development order of the three sectors and the coordinated development degree of each sector in the system by calculating the relative weight index and coupling index.Finally,this paper uses Tobit regression model to analyze the influence of education level,industrial scale,opening level,economic development level and R&D intensity on the overall efficiency scores of the system.This paper draws the following conclusions:(1)The financial sector and R&D sector showed an upward trend from 2011 to 2019,while the industrial sector rose first and then fell,showing a downward trend.Besides,the overall efficiency of the financeR&D-industrial coupling system showed an upward trend during the study period,but there was still low efficiency.Among the 30 provinces evaluated,Shanghai,Beijing and Jiangsu had higher overall system-efficiency and sub-efficiencies,while Qinghai,Ningxia and Inner Mongolia had lower efficiency scores and needed more attention from the government.(2)In the three sub-sectors of the finance-R&D-industry coupling system,the R&D sector was dominant,followed by the industrial sector,and the financial sector had the lowest proportion.In the analysis of the coupling coordinated development of the sub-sectors,the coupling index was relatively stable,and the coupling coordination index showed an upward trend.Among them,Ningxia,Hainan,Inner Mongolia and Qinghai had the lowest coupling level,and Shanghai,Jiangsu,Zhejiang and Fujian had the highest coupling level.(3)In the analysis of external influencing factors,the level of economic development and education level had a positive impact on the overall efficiency of the coupling system,R&D intensity had a negative impact,the level of opening and industrial scale were not significant. |
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